Pension thresholds September 2021

Changes to income and asset thresholds will take effect from 20 September 2021.

Below are the new limits that will apply to you:

Centrelink income test limits for Age Pensions from 20 September 2021

SituationFor full pension/allowance (per fortnight)For part pension(pf) From 20 September 2021
Singleup to $178less than $2115.00
Couple (combined)up to $316less than $3237.20
Illness separated (couple combined)up to $316less than $4190.00


Centrelink asset test limits for full Age Pensions from 20 September 2021

SituationHomeownersNon-homeowners
Single$270,500$487,000
Couple (combined)$405,000$621,500
Illness separated (couple combined)$405,000$621,500


Centrelink asset test limits for part Age Pensions – effective from 20 September 2021

SituationHomeownersNon-homeowners
Single$593,000$809,500
Couple (combined)$891,500$1,108,000
Illness separated (couple combined)$1,050,000$1,266,500


Centrelink income test limits for transitional part Age Pensions from 20 September 2021

Situation 
Singleless than $2198.25
Couple (combined)less than $3576.00
Illness separated (couple combined)less than $4356.50


Centrelink asset test limits for transitional part Age Pensions – effective from 20 September 2021

SituationHomeownersNon-homeowners
Single$539,750$756,250
Couple (combined)$839,500$1,056,000
Illness separated (couple combined)$943,500$1,160,000


Centrelink deeming thresholds from 1 July 2021
 

Family SituationAssets ThresholdDeeming rate
Single$0 – $53,0000.25%
Above $53,000 2.25%
Pensioner Couple – combined (2)$0 – $88,0000.25%
Above $88,000 2.25%

Will these changes make a difference to your retirement?



SPONSORED LINKS

LOADING MORE ARTICLE...